Ireland Consumer Confidence March 2019

Ireland

Ireland: Consumer sentiment jumps in March on easing fears around the prospect of a no-deal Brexit

April 4, 2019

The KBC Bank Ireland/ESRI consumer sentiment index recovered some lost ground in March, climbing to 93.1 from 86.5 in February. The index thus moved closer to the critical 100-point threshold that separates optimism from pessimism among consumers, and signals a softer contraction than February’s over four-year low.

Improved consumer sentiment in March reflected an upturn in all but one sub-component of the index. Fears over the prospect of a no-deal Brexit appear to have eased, thus prompting consumers to upgrade their assessments on their personal finances in the past year, and improve their outlooks on the general economic conditions and their personal financial situation in the next 12 months. Cancellation of the nurses’ strike also helped to boost sentiment. The outlook on unemployment was also less downbeat, while the willingness to make major purchases was the only category to see a moderation.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2019, which is unchanged from last month’s forecast. For 2020, the panel also sees private consumption growing 2.5%.


Author:, Economist

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Ireland Consumer Confidence March 2019

Note: The KBC Bank Ireland/ESRI Consumer Sentiment Index.
Source: The Economic and Social Research Institute (ESRI).


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